Real Estate Business in Dubai during Last Couple of Years and at Present
Dubai is best site for the high standard people to live in because of its present high rate development which is being taking place for last couple of years. Obviously, this development is coupled with high productivity of opportunities for the foreigners as well as for locals. As, UAE has number of oil resources so it need huge man power from the country and abroad. So, to fulfill these manpower vacancies huge number of foreigners is attracted towards Dubai and its neighboring states in search of jobs. Thus in turn, the population of Dubai and its neighboring states is increasing very fast. This increased population has good effect for some people and also worst effect for the others. If we take the positive side of this increased population, than we will say that it is beneficial for those who are concerned or linked with the real estate business and in other words who are property dealers. So the people who want to invest in property in Dubai, there are good signs for them. Any person who has interest in property in Dubai from any part of world can come here in Dubai and can start fast growing business.
There are fluctuations in term of demand and supply in any sort of business. So unluckily, in the start of 2011 Dubai property also faced some sort of decline in the demand of property. But fortunately, this decline was of short time interval and now once again Dubai property business is going to its formal position.
Earlier we have just discussed about the prices and present business aspects of Dubai properties. In same way, the rent in Dubai is also affected and fluctuates which is also directly linked with those factors which affect other real estate domains. As the property rates and property demand was a bit lesser than earlier periods of time in Dubai during the start of 2011, in same way rent in Dubai was also affected during that specific interval of time.
The possible reason of that decline in demand and rent in Dubai property was probably the oversupply of properties and other Dubai rentals in some geographic regions of Dubai. One of the affected area was Jumeirah village and some other areas with similar effects were spots city and down town Dubai. All these areas and many more were affected by oversupply with one more factor that is low rents. So, tenants started coming towards these areas and then property dealers of areas with high rental apartments had to lower the rents in their specific areas under compulsion to stabilize all Dubai rentals apartment’s rent. In other words, to retain the tenants in less demand declined areas, owners had to lower rents of their corresponding apartments. But interestingly there were some areas in Dubai which was not affected by that wave of decline in demand of property and rentals apartments. Among those areas, palm jumeirah was a area which was not affected by that decline of demand or in other words, of oversupply.
Mark Castellino is a seasoned traveler, educator and freelance writer. Fluent in many languages, he spends his time in Dubai working at Dubai Media City. Mark often comments about life in Dubai especially with regard to Homes for rent in Dubai | commercial property dubai and buy dubai property. He loves pets and children.
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